Most of the businesses after the pandemic period have allocated a fund to spend on digital. That’s a good sign. But the problem is when all these businesses want to rank like the biggies of the industry with limited funds and without opting for experts. Many of the businesses I have seen often claim that digital is nothing more than posting some images and videos on Instagram and Facebook. There’s an old saying that half knowledge is dangerous. In this case, the same happens.
Businesses lose out on money spending on advertisements online without understanding the science behind it. They feel paying to an agency or an expert is an add-on to the fixed costs. So they choose to do it themselves.
The long term financial problem that arises is the variable cost of spending on such unprofessionally designed ad campaigns which fetch no return to the business. The outcome is generally one way – “digital is useless”. But the main problem lies in the mindset of managing the fixed cost. It is really nothing to do with ‘digital for business’; rather it is about the variable cost that adds up to a lot with a equivalent of nothing as ‘result’.
As Paytm once communicated in their campaign – “Go big or go home”; I really feel a good strategy comes from a good industry expert – be it an agency or an individual and businesses as clients must value that. It is the value that adds up to the business as strategic moves, creative approach and communication design. Ending with a note – decide to do digital business only when you understand that just like a physical business, there are risks involved. There’s no magic!